Brokers Offer Predictions for The Kroger Co.’s Q1 2023 Earnings (NYSE:KR)
The Kroger Co. (NYSE:KR – Get Rating) – Oppenheimer upped their Q1 2023 earnings estimates for Kroger in a report released on Thursday, June 9th. Oppenheimer analyst R. Parikh now anticipates that the company will post earnings per share of $1.26 for the quarter, up from their prior estimate of $1.22. Oppenheimer also issued estimates for Kroger’s Q2 2023 earnings at $0.81 EPS, Q3 2023 earnings at $0.79 EPS and Q4 2023 earnings at $0.94 EPS.
A number of other research firms have also commented on KR. BNP Paribas raised Kroger from an “underperform” rating to a “neutral” rating and set a $60.00 price target on the stock in a research report on Friday, April 22nd. JPMorgan Chase & Co. raised their price target on Kroger from $44.00 to $45.00 in a research report on Friday, February 25th. Guggenheim lifted their target price on Kroger from $49.00 to $57.00 and gave the company a “buy” rating in a research report on Monday. Telsey Advisory Group lifted their target price on Kroger from $62.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, April 7th. Finally, BMO Capital Markets lifted their target price on Kroger from $41.00 to $57.00 and gave the company a “market perform” rating in a research report on Friday, March 4th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $51.40.
NYSE KR opened at $50.43 on Friday. The firm has a market cap of $36.36 billion, a P/E ratio of 23.13, a P/E/G ratio of 1.35 and a beta of 0.49. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.33. The stock’s 50-day moving average is $54.65 and its 200-day moving average is $50.25. Kroger has a one year low of $36.77 and a one year high of $62.78.
In related news, SVP Timothy A. Massa sold 50,283 shares of the company’s stock in a transaction that occurred on Thursday, April 21st. The stock was sold at an average price of $58.03, for a total transaction of $2,917,922.49. Following the transaction, the senior vice president now directly owns 163,956 shares of the company’s stock, valued at approximately $9,514,366.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Yael Cosset sold 34,812 shares of the stock in a transaction that occurred on Thursday, April 7th. The shares were sold at an average price of $59.50, for a total value of $2,071,314.00. Following the sale, the senior vice president now directly owns 162,207 shares of the company’s stock, valued at $9,651,316.50. The disclosure for this sale can be found here. Insiders sold a total of 348,424 shares of company stock worth $19,654,330 in the last quarter. Corporate insiders own 1.35% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Kozak & Associates Inc. bought a new position in shares of Kroger in the third quarter worth $25,000. Andrew Hill Investment Advisors Inc. bought a new stake in Kroger during the 4th quarter valued at approximately $26,000. Key Financial Inc boosted its position in Kroger by 81.6% during the 1st quarter. Key Financial Inc now owns 445 shares of the company’s stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. Hoey Investments Inc. bought a new stake in shares of Kroger in the 1st quarter worth approximately $29,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Kroger in the 1st quarter worth approximately $29,000. 81.52% of the stock is owned by institutional investors and hedge funds.
About Kroger (Get Rating)
The Kroger Co operates as a retailer in the United States. The company operates combination food and drug stores, multi-department stores, marketplace stores, and price impact warehouses. Its combination food and drug stores offer natural food and organic sections, pharmacies, general merchandise, pet centers, fresh seafood, and organic produce; and multi-department stores provide apparel, home fashion and furnishings, outdoor living, electronics, automotive products, and toys.
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